关键词: 欧元区, 经济增长, 贡献因素, 单一货币政策, 共同财政纪律

Abstract: Except in 2001 the economic growth of the euro area has been lower than the developed economies in the world.The fundamental reasons are its relatively backward technological progress,the rigid labor market and high unemployment rate.The single monetary policy,with price stability as the main objective,is good to keep the macroeconomic stability of the euro area but restricts its fast growth to a certain degree.The common fiscal discipline has played an important role in assuring the smooth growth of the euro area economy,but weakens the capability of the member countries to use fiscal policies to defend their domestic economic cyclical shocks and external economic imbalance,especially in economic recession restricts individual country to carry out expansionary fiscal policies to stimulate its economy growth.

Key words: Euro area, economic growth, contribution factors, single monetary policy, common fiscal discipline